A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most efficient comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s a great time to explore your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which enable the thermostat to fine-tune how much heating is released. It’s an easy way to lower energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for obtaining a furnace rebate. You can submit your ZIP Code to see which rebates you may be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Rebates for Air Conditioning Systems
Plenty of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just talk to your local utility companies to find out which makes and models are entitled. What’s more, you can easily join federal and local rebates for even higher savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency AC system
Potential Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this kind of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also provide programs where they provide discounted rates for the ability to access your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts arrive. When participating in this program, your thermostat may automatically be corrected by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and may be claimed each year rather than only once. These credits are obtainable for a much larger variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to offer the most benefits for lower-income households, maximizing the improvements to HVAC efficiency all over the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC units and furnaces.
If the household’s income is less than 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the median income can pay for 50% of equipment and installation costs.